DisCos’ Debt Hits N2tn – GenCos

The Affiliation of Energy Era Corporations has blamed the Distribution Corporations for the low energy technology within the nation.

Talking at an occasion in Lagos on Thursday, the Government Secretary of the affiliation, Dr Pleasure Ogaji, mentioned the DisCos have additionally refused to pay up the N2trn debt owed them.

Ogaji revealed that the GenCos had been owed N2trn and never N500bn as being reported, including that its members additionally owe suppliers N1trn.

She added that the GenCos had not been capable of make energy out there because of the enormous money owed being owed them by the Nigerian Bulk Electrical energy Buying and selling Plc (NIBET)

Ogaji additional defined that though the GenCos at the moment had sufficient energy producing capability, the market was not out there because the DisCos had not been capable of take all energy generated.

“Nigerians don’t need energy as a result of there isn’t any demand for it. As an illustration, Egbin, which has over 1000 capability, has not been capable of generate 800MW as a result of there’s no demand,” she mentioned.

She defined that energy technology trusted market demand and Nigerians aren’t demanding energy, which resulted in enormous debt.

Ogaji additionally faulted the capability of the nationwide grid to take the entire of energy generated by the producing corporations.

She mentioned: “We now have the capability to generate extra for the nation, however the nationwide grid has not been capable of take every part we produce. Then we get blamed for corporations shutting down and leaving for different international locations.

“As we communicate, there’s but proof that Nigeria wants energy as a result of if the nation wants energy, all palms will likely be on the bottom to ask for greater than what we at the moment generate, and be prepared to pay for it. That’s after we might be held accountable for not growing technology.”